Citigroup Inc. Sells 1,011,738 Shares of STMicroelectronics N.V. $STM

Citigroup Inc. cut its stake in STMicroelectronics N.V. (NYSE:STM) by 58.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 716,215 shares of the semiconductor producer’s stock after selling 1,011,738 shares during the quarter. Citigroup Inc. owned about 0.08% of STMicroelectronics worth $20,240,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. JPMorgan Chase & Co. boosted its position in STMicroelectronics by 19.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,990,874 shares of the semiconductor producer’s stock valued at $112,782,000 after acquiring an additional 641,327 shares in the last quarter. ABC Arbitrage SA grew its stake in STMicroelectronics by 378.6% in the third quarter. ABC Arbitrage SA now owns 620,238 shares of the semiconductor producer’s stock worth $17,528,000 after purchasing an additional 490,652 shares during the period. Penserra Capital Management LLC raised its holdings in STMicroelectronics by 43.4% in the third quarter. Penserra Capital Management LLC now owns 927,695 shares of the semiconductor producer’s stock worth $26,216,000 after purchasing an additional 280,615 shares in the last quarter. Ingalls & Snyder LLC lifted its position in STMicroelectronics by 38.1% during the third quarter. Ingalls & Snyder LLC now owns 337,427 shares of the semiconductor producer’s stock valued at $9,536,000 after buying an additional 93,111 shares during the period. Finally, Calamos Advisors LLC bought a new stake in shares of STMicroelectronics during the 3rd quarter valued at $3,222,000. Institutional investors own 5.05% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Susquehanna increased their price target on shares of STMicroelectronics from $35.00 to $40.00 and gave the stock a “positive” rating in a research note on Monday. Mizuho set a $28.00 target price on shares of STMicroelectronics in a research note on Friday, January 9th. Finally, Weiss Ratings upgraded STMicroelectronics from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, February 20th. Six analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, STMicroelectronics has an average rating of “Hold” and an average price target of $31.93.

STMicroelectronics Stock Down 0.5%

STM stock opened at $34.40 on Friday. The company has a quick ratio of 2.43, a current ratio of 3.36 and a debt-to-equity ratio of 0.10. STMicroelectronics N.V. has a twelve month low of $17.25 and a twelve month high of $35.07. The stock has a market cap of $30.90 billion, a P/E ratio of 191.12 and a beta of 1.59. The business’s 50-day moving average price is $29.49 and its 200-day moving average price is $27.27.

STMicroelectronics (NYSE:STM) last announced its quarterly earnings data on Thursday, January 29th. The semiconductor producer reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.16). The firm had revenue of $3.33 billion during the quarter, compared to analysts’ expectations of $3.29 billion. STMicroelectronics had a return on equity of 2.70% and a net margin of 1.41%. On average, equities research analysts forecast that STMicroelectronics N.V. will post 0.85 EPS for the current year.

STMicroelectronics Profile

STMicroelectronics is a global semiconductor company headquartered in Geneva, Switzerland, formed through the 1987 merger of SGS Microelettronica and Thomson Semiconducteurs. The company designs, develops and manufactures a broad range of semiconductor products and solutions that serve multiple end markets worldwide. ST’s offerings span from basic components to integrated systems, emphasizing energy-efficient and high-performance devices for modern electronics.

Product categories include microcontrollers (notably the widely used STM32 family), analog and mixed-signal ICs, power MOSFETs and power-management devices, MEMS and sensors, image sensors, and discrete semiconductors.